Al Arabiya TV reports the Saudi crown prince and the French president discussed efforts to bolster regional security and safeguard freedom of navigation.

Saudi outlet Alhadath reported that the Syrian parliament has postponed a hearing in which the energy minister was due to be questioned over oil derivatives pricing.

Following the Fed rate hike and updated rate outlook, the S&P 500 initially rose 0.4% at 14:07 ET; the 10-year U.S. Treasury yield was 4.95%, unchanged from immediately before the Fed decision and slightly below Tuesday's 4.995%. At 14:30 ET, when a Fed speaker began remarks, the S&P was up 0.3%. During the speech the index erased its gains; by 15:01 ET, at the end of the remarks, the S&P had turned down 0.4% and later sank as much as 1%. The 10-year yield, near 4.95% before 14:30 ET, briefly rose above 5% before retreating below 5% and ended the day roughly unchanged.